S.

calendering condensate

, president and CEO of NewPage
Corporation .
Kadant expects the acquisition to be accretive to GAAP earnings
per share (EPS) in 2005 by $ . is a leading global supplier of a range of products
that improve quality and productivity in pulp and paper production,
including stock-preparation equipment, water-management systems, and
paper machine accessories.

verreault spreader

"The agreement to acquire Johnson marks the culmination of our
search for a company that could extend our technology-based offerings
in the paper industry," said William A .
Important factors could cause actual results to differ materially from
those indicated by such statements, including: the ability to
consummate the transaction, the ability of Kadant to successfully
integrate Johnson's employees and operations, the ability to realize
anticipated synergies and cost savings, the receipt of regulatory
approvals in connection with the transaction, unanticipated
disruptions to business, general economic conditions, and other
factors set forth under the heading "Risk Factors" in Kadant's annual
report on Form 10-K for the period ended January 1, 2005.

vantek tpi

5 million tons of coated and
carbonless paper.----Kadant Inc.07, and by approximately $." An
audio archive of the call will be available on our Web site until May
6, 2005.

tpi wickeltechnik

Options under
consideration will include, but are not limited to:
- The sale of the facilities to an owner with better alignment to its
core businesses that would enhance the viability long term,
- The sale of the business to the Chillicothe management team and/or
employees, or
- Major restructuring and streamlining of the existing facilities to
reduce costs.
(NYSE:KAI) announced that it has entered into a definitive agreement
to acquire The Johnson Corporation for approximately $102 million in
cash, subject to a post-closing adjustment.
Kadant Inc. We undertake
no obligation to publicly update any forward-looking statement,
whether as a result of new information, future events, or otherwise.

verreault hydrodynamic

With more than
6,300 employees, the company operates five integrated pulp and paper
manufacturing mills located in Chillicothe, Ohio; Escanaba, Michigan; Luke,
Maryland; Rumford, Maine; and Wickliffe, Kentucky. Johnson has been in business for more
than 70 years.
EBITDA and EBITDA margins are widely used in the industry as a
measure for evaluating market value.

trimmer dewatering

These efforts should be
accelerated and the operations streamlined to remain sustainable.

Use of Non-GAAP Financial Measures

In addition to the financial measures prepared in accordance with
generally accepted accounting principles (GAAP), we use certain
non-GAAP financial measures, including EBITDA. EBITDA is defined as net income before
interest, income taxes, depreciation, and amortization .

sawdust corrugating

m.

vantek spreader

About NewPage Corporation
NewPage(TM) Corporation, headquartered in Dayton, Ohio , is a leading U.
producer of coated and carbonless papers in North America. The parties have also
agreed to an earn-out provision, based on the achievement of certain
revenue targets over a period of 12 to 15 months following the
closing, which could increase the purchase price by up to $8 million .

trimmer dewatering

Johnson's primary products include rotary joints, syphons,
and related steam and condensate systems. Adjusted
EBITDA excludes certain estimated non-recurring and
transaction-related expenses . Adjusted EBITDA margin is defined as
adjusted EBITDA divided by revenues.com
The following constitutes a "Safe Harbor" statement under the
Private Securities Litigation Reform Act of 1995: This press release
contains forward-looking statements that involve a number of risks and
uncertainties, including forward-looking statements about the
estimated post-closing adjustments to the purchase price for the
acquisition of Johnson, the tax benefits expected to be realized by
Kadant following such acquisition, the estimated additional amounts to
be paid by Kadant pursuant to an earn-out provision under the
acquisition agreement, the expected financing to fund a portion of the
purchase price for this transaction, the anticipated timing for
closing of the transaction, the benefits and synergies of the
transaction, and the expected future business and financial
performance of the combined company following the transaction.

pulp fiberboard

Kadant to Acquire The Johnson Corporation; Extends Paper Industry Offerings Brings Access to New Markets; Company to Host Conference Call on Friday April 8

Kadant is currently negotiating a credit facility of $85 million,
including a $25 million revolver, to finance a portion of the purchase
price. You can also listen to the call live on
the Web by visiting www .kadant.

hydrodynamic permeability

It is
important to make informed decisions and we value their input. The rotary joints act as
seals that connect rotating components with fixed piping to convey
steam, water, air, or heat transfer oils.

hydrodynamic corrugating

NewPage Corporation Considers Strategic Alternatives for Carbonless Operations

"
Recent investments in core assets supporting the carbonless and uncoated
paper manufacturing businesses include:
- $25 million rebuild of 12 Paper Machine including the installation of a
shoe press and dryer rebuilds to enhance productivity
- $15 million rebuild of 12 coater to install state-of-the-art
coating technology

The Ohio-based facilities under review include the carbonless paper
manufacturing operations and the Chilpaco facility in Chillicothe, and the
facility in Fremont. "We are excited about adding Johnson's
premier brand to our family of high-end products.

calendering trimmer

Over the past several years,
considerable capital has been invested in the facilities to drive cost and
quality improvements over the longer term. Rainville, chairman and chief
executive officer of Kadant., or
973-582-2810 outside the U. Kadant, based in Acton, Massachusetts, had
approximately $195 million in revenues from continuing operations in
2004 and 950 employees worldwide.

Where a supplier deals in both kinds of equipment, its site can be (and, because of the its relationship to boardmaking, should be) indexed in the Pulp and Paper category.

voith permeability

In addition to the cash consideration , Kadant will issue a letter of
credit to the sellers for approximately $4 million, subject to
adjustment , related to certain expected tax benefits of Johnson, the
value of which is expected to be realized by Kadant.

hydrodynamic kadant

Johnson not only
offers complementary products, a large aftermarket business, and
expanded market coverage, but also shares Kadant's long history of
innovation and leadership as a paper industry supplier. To listen, call 800-709-2159 within the U.S.com and clicking on "Investors.

corrugating papermaking

DAYTON, Ohio , NewPage Corporation announced today
that it is evaluating steps needed to ensure the carbonless business and
associated facilities remain viable for the long term. We are publicly announcing
this initiative at this early stage so we can openly engage our employees,
their representatives, and other key stakeholders in our deliberations. For additional information, please visit the company's Web
site at newpagecorp. The completion of the acquisition is subject to customary
closing conditions , including regulatory approvals and the approval of
Johnson's stockholders, as well as Kadant securing at least $55
million in financing. For more information, please visit
www.

This category contains sites related to the supply and service of paper and board making machinery and a range of specialized products for use by the pulp and paper industry.

Note: Sites that are concerned with equipment for converting paper and board products should more properly be directed for indexing in the Business /Industries/Machinery_and_Tools/Converting_Equipment category.

dewatering pulp

The Distribution Center and Converting facility on
Chambers Drive in Chillicothe are not a part of this initiative.25 in
2006. In addition ,
through its ties to other industries, I believe Johnson will allow us
to apply our technologies to a number of growth opportunities in new
markets.

Additional note: In effect, a fine line is drawn between equipment used, on the one hand, in the production of corrugated board and, on the other hand, in producing corrugated containers and display products.

hogenkamp tpi

These mills have a
combined annual capacity of approximately 2.
The company is privately held, with estimated 2004 revenues of $76
million and estimated adjusted EBITDA margins of 15 to 17 percent
based on December 31, 2004 , unaudited financial statements provided by
Johnson. Kadant believes that adjusted
EBITDA margin is a useful measure of Johnson's ability to generate
cash flows from operations and can be used in addition to GAAP
financial measures to evaluate company performance.

porosity spreader

"This means that to meet our continued obligations to our
customers, employees and communities we need to take bold steps to keep the
overall business competitive and sustainable for the long term, and to take
advantage of the strong Chillicothe-based assets.

05 to $. These products are used to
optimize drying in the paper industry, and also have applications in
industrial cylinder heating and cooling processes in machine tool,
plastics, rubber, steel, and textile production."

Conference Call

Kadant will hold a conference call on Friday, April 8, 2005, at
8:30 a.

However, firms that supply only the means for converting corrugated board belong in the Converting_Equipment category instead.

spreader dewatering

S.
Johnson is based in Three Rivers, Michigan, USA, and has
approximately 575 employees at operations in North and South America,
Europe, and Asia. EBITDA is not a measure of
performance under GAAP and should not be considered a substitute for
net income as a measure of performance, nor as a substitute for cash
flow as a measure of liquidity.kadant.

permeability spreader

refiner tpi

Johnson is the leading supplier of steam and condensate systems,
hardware, and controls used in the dryer section of paper production. Like Kadant,
Johnson 's products and services add high value at critical points in
the papermaking process, for relatively low cost.
Kadant's guidance relating to the expected impact that the
acquisition will have on its earnings per share is subject to
adjustments required under purchase accounting, such as the
determination of the portion of the purchase price attributable to
identifiable intangible assets and the amortization of those assets.

porosity vantek

"
Vogel added, "Our new company is committed to act quickly and address
opportunities to improve the business.com. The closing is expected to occur in the second
quarter of 2005. The Three Rivers facility includes a world-class R+D
center that features two commercial-size paper drying cylinders for
conducting product research and customer trials, and extensive joint
and seal testing capabilities. Eastern time to provide more information about the
acquisition .

It also indexes companies involved in equipment for producting single and double sided corrugated rolls and sheets.

porosity vantek

"We believe the Chillicothe-based operation is the largest, fastest, fully
integrated carbonless system in the world. However, the total carbonless
market is declining slowly as other business forms, especially electronic,
take market share," said Peter H. Vogel, Jr .

Business Editors

ACTON, Mass.

wastepaper kadant

---

- - kjjkjk

Loading...

(Note: These pages use the Atlas Content Safeguard System (ACSS) and require that Javascript is enabled for viewing.)